Canada chosen for multinational defence bank HQ [Wealth Professional (Canada)]
JP Morgan Chase & Co. (JPM)
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Source: Wealth Professional
Canada has been chosen to host a new multinational defence bank that aims to mobilise as much as US$135bn for allied military projects and could generate thousands of high-skilled jobs in defence finance. CBC News , citing sources who spoke to Radio-Canada, reports that Canada has been chosen to host the headquarters of the Defence, Security, and Resilience Bank (DSRB). The Globe and Mail first reported that decision, and Reuters said the choice followed three rounds of negotiations in Montreal involving about 19 founding countries. CBC News reported that securing the bank is expected to create about 3,500 jobs in defence finance, international operations and specialised research and analysis. According to Wealth Professional , Ottawa has signalled it will work with international partners on the DSRB, described as a planned multilateral, state-backed institution designed to support rearmament for European and NATO member countries. WP reported that RBC, Bank of Nova Scotia,
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